Front month cattle futures are trading mixed within 20 cents of UNCH so far. The August contract is 92 cents higher on the LTD. Front month feeder cattle are down by 40 to 92 cents so far. USDA confirmed some light cash cattle trade on Wednesday in the WCB from $184-186. The 8/29 CME Feeder Cattle Index was 3 cents stronger to $249.15.
Export Sales data from this morning had 18,170 MT of beef bookings for the week that ended 8/24. That was a 5-wk high led by sales to China. Beef exports were reported at 19,884 MT which was a CY high. Total beef commitments were 679,502 MT as of 8/24 – trailing last year’s pace by 16%.
USDA’s Wholesale Boxed Beef prices were mixed on Thursday morning, with a 72 cent drop in Choice and a $1.49 increase for Select. The Chc/Sel spread was at $23.37. Federally inspected cattle slaughter was estimated at 375k head for the week through Wednesday. That is 11k head above last week’s pace but trails the same week last year by 2k head.
Aug 23 Cattle are at $179.725, up $0.925,
Oct 23 Cattle are at $180.075, up $0.025,
Dec 23 Cattle are at $183.975, down $0.250,
Cash Cattle Index was $179.000, from $179.00 last week
Aug 23 Feeder Cattle are at $248.950, down $1.100
Sep 23 Feeder Cattle are at $251.900, down $0.725
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
/Tesla%20Inc%20tesla%20by-%20Iv-olga%20via%20Shutterstock(1).jpg)
/Stickers%20with%20AMD%20Radeon%20and%20Nvidia%20GeForce%20RTX%20graphics%20on%20new%20laptop%20computer%20by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)